Hello friends!
Of
our 4 closings on Friday, all but 1 blew up last minute , and scrambling was in
order. Be sure to watch stay tuned for the ‘Earnest Money Contract Tip’ video. That was one
of the blow ups! All funded and has ended well because of my awesome back end
team: Heath, Jason and Kenny that jumped over some pretty high mountains to
keep things in order and on time, so our borrowers and realtors didn’t know
anything was going on. We got your back!
Last week I had the pleasure of hearing Bill Sherrill, one of Houston’s icons, speak
on the forecast of our city’s economy. For those that don’t know Mr. Sherrill,
he is a WWII hero, a past director of the FDIC, Federal Reserve, as well as U
of H professor, and founder of the Wolff Center for Entrepreneurship. Some
impressive company! His thoughts are that the oil depression has likely
bottomed out, and has already started its ‘slow’ recovery. He also believes
that Houston’s economy has the strength of other sectors (medical,
construction, technology, etc) that have kept our economy from destabilizing.
The concern in the near future will be what happens with our domestic fiscal
policy. He is concerned that there is not a strong party leadership on either
side, and that fiscal policy negotiations could get hung up, and a shut down of
our economy could be crucially destructive.
5 reasons oil blew up http://www.bizjournals.com/houston/print-edition/2015/02/20/stay-calm-and-drill-on-your-survival-guide-to.html?ana=e_ph_prem&u=UnnItRR633tTsS7MoBNcfA0e1b5022&t=1424441313
In the markets:
Rates
slightly increased last week due to volatile movements with news about Greece
and its continued decline, and the consideration of a Greek exit from the EU.
Additionally at home, the Fed Meeting minutes provided little guidance on what
fed funds rates may do in the near future. This makes investors nervous, and is
reflected in the mortgage bond trading.
Enjoy your week, and as always, we LOVE BEING YOUR LENDER!
~Jen
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